Acadia Healthcare Acquires MMO Behavioral Health Systems
December 02 2015 - 7:00AM
Business Wire
Transaction Provides Acadia Its First
Inpatient Behavioral Health Facilities in Baton Rouge and Greater
New Orleans
Acadia Healthcare Company, Inc. (Nasdaq: ACHC) today
announced that it has acquired MMO Behavioral Health Systems, which
is headquartered in Baton Rouge, Louisiana. MMO operates two acute
inpatient behavioral health facilities with a total of 80 beds and
located in Baton Rouge and in Covington, which is in the northern
part of the New Orleans metropolitan statistical area. The acquired
assets generated revenues of approximately $16 million for the 12
months ended September 30, 2015, and the transaction is expected to
be immediately accretive to Acadia’s financial results, excluding
transaction related expenses.
“MMO is a long-standing provider of quality behavioral health
services in its markets, and we are pleased to add their facilities
and their strong team to our operations,” commented Joey Jacobs,
Chairman and Chief Executive Officer of Acadia. “This transaction
strengthens our presence in Louisiana and gives us our first
inpatient behavioral health facilities in the Baton Rouge and
greater New Orleans markets. We believe we are well positioned to
produce long-term organic growth in these facilities and in these
markets. In addition, this transaction is representative of our
ongoing opportunities to drive long-term growth through our
acquisition strategy, both domestically and in the United
Kingdom.”
Risk Factors
This news release contains forward-looking statements. Generally
words such as “may,” “will,” “should,” “could,” “anticipate,”
“expect,” “intend,” “estimate,” “plan,” “continue,” and “believe”
or the negative of or other variation on these and other similar
expressions identify forward-looking statements. These
forward-looking statements are made only as of the date of this
news release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise. Forward-looking statements are based on
current expectations and involve risks and uncertainties and our
future results could differ significantly from those expressed or
implied by our forward-looking statements. Factors that may cause
actual results to differ materially include, without limitation,
(i) Acadia’s ability to complete acquisitions and successfully
integrate the operations of acquired facilities; (ii) Acadia’s
ability to add beds, expand services, enhance marketing programs
and improve efficiencies at its facilities; (iii) potential
reductions in payments received by Acadia from government and
third-party payors; (iv) the occurrence of patient incidents, which
could adversely affect the price of our common stock and result in
incremental regulatory burdens and governmental investigations; (v)
the risk that Acadia may not generate sufficient cash from
operations to service its debt and meet its working capital and
capital expenditure requirements; and (vi) potential operating
difficulties, client preferences, changes in competition and
general economic or industry conditions that may prevent Acadia
from realizing the expected benefits of its business strategy.
These factors and others are more fully described in Acadia’s
periodic reports and other filings with the SEC.
About Acadia
Acadia is a provider of inpatient behavioral healthcare
services. Acadia operates a network of 258 behavioral healthcare
facilities with over 9,900 beds in 39 states, the United Kingdom
and Puerto Rico. Acadia provides psychiatric and chemical
dependency services to its patients in a variety of settings,
including inpatient psychiatric hospitals, residential treatment
centers, outpatient clinics and therapeutic school-based
programs.
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version on businesswire.com: http://www.businesswire.com/news/home/20151202005187/en/
Acadia Healthcare Company, Inc.Brent Turner,
615-861-6000President
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